A crypto market participant identified as an ‘insider whale’ has initiated sizable leveraged short positions targeting XRP and Solana (SOL).
Data indicates the whale opened 20x leveraged short positions equivalent to 3,333,333 XRP at an entry price of approximately $2.93 and 44,444.44 SOL at an entry price of roughly $164.18.
The total value locked in these new short positions stands at approximately $17.07 million. These trades contribute to the whale’s broader portfolio, where their total short exposure is reported to exceed $221 million across four active trades.
The positions currently show a significant floating profit estimated at $6.01 million, suggesting the trades are favorable so far. This aligns with observed market volatility and potential downward pressure on the prices of both XRP and SOL.
Market analysts note that such substantial short positions deployed by influential actors can impact market sentiment and liquidity. They often signal bearish pressure on the targeted assets in the short term.
On-chain analysis experts, like the entity known as @ai_9684, are instrumental in tracking these large-scale whale activities. Their work provides visibility into complex market dynamics using verifiable on-chain data, avoiding reliance on speculative information sources.